The Balance Sheet

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The Balance Sheet

The Balance Sheet is the blog of the Local Government Commission staff. Click below to sign up to receive email alerts when new blog posts are released.

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For announcements and resources related to ARPA funds and the impacts of COVID-19, visit our Local Government ARPA Resources page.

ARPA Resources

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2021 Audit Review Season Reminders

With the 2021 audit review season, we are continuing our transition to an automated risk-based approach to reviewing your audits. We are experiencing some delays in the 2021 reviews while we implement these changes. We ask for your patience as we transition to the new process.   

Premium Pay Program Checklist 

The UNC School of Government has published a checklist for local governments to use when considering use of ARPA funds for premium pay. We strongly encourage you to review this checklist before making payments to employees. You can access the checklist 

2022 Debt Application Due Dates

A unit of government with a June 30 fiscal year end that is seeking debt approval in November or a later month will need to have the fiscal year 2021 audited financial statements and other documents submitted to the LGC staff before the application can proceed.  Below are the deadlines for calendar year 2022. 

FY 2021 Audit Report Due Date

Many of you have been asking about audit due dates, extensions, and amended contracts. If you have a June 30 fiscal year end, the due date for your audit report is October 31. We do not offer extensions for that deadline.

Delay in ARPA Reporting Deadlines

To all counties and municipalities:

The U.S. Treasury  has delayed the next round (for counties and metro cities) and first round (for NEUs) of reporting for ARPA funds.  The new reporting deadlines are as follows:

ARPA Funds and Premium Pay

If you have questions about using your ARPA money for premium pay, this blog post from Kara Millonzi at the UNC School of Government answers a lot of those questions!

Impact of Federal Budget Impass

As most of you know, tomorrow is the last day of the federal government’s fiscal year, and no budget or continuing resolution has been approved (as of the date and time of this post) to keep the federal government running. What impact will this have on you as a local government in NC? Below is a list of some of the more common issues locals may face. It is certainly not a complete list!

Training Opportunity for Local Elected Leaders – Financial Fiduciary Responsibilities of Local Elected Leaders

Thursday, October 14, 2021 from 9AM – 12PM

Virtual presentation via the UNC School of Government

Click here for more information and to register.

Free ARPA Webinar from SOG

NEUs Should WAIT for U.S. Treasury Guidance

The State and Local Government Finance Division has just received an important update from the NC Pandemic Recovery Office - the U.S. Treasury is encouraging NEUs to wait until Treasury provides guidance at the beginning of October (no date has been confirmed) about login requirements for the U.S.

October 31 ARPA Reporting Deadline

The first reporting deadline of August 31 for ARPA funds has passed (required only by counties and metropolitan cities), with a few hiccups along the way.

Automated Systems and the Pre-Audit Requirement

Under North Carolina Session Law 2021-58, units of local government subject to the pre-audit requirements of North Carolina General Statute 159-28 may now use an automated system to meet those requirements if: